Non-Deductible Conversion to Roth While Owning Tradional
If I opened a non-deductible IRA for a client in ’09 with the intentions of converting to a Roth in ’10, and he already has a separate traditional IRA, does the separate traditional IRA have to be taken into consideration when I convert the non-deductible to a Roth? Also, the income limits for making Roth contributions does not go away?
Permalink Submitted by Al Fry on Thu, 2009-12-17 15:24
Yes, via IRS form 8606; and yes, the income limits on Roth contributions are still there in 2010 and thereafter.